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Parents who Adopt can Benefit from this Tax Credit
Taxpayers who adopted or started the adoption process during 2019 should review the rules around the adoption credit. While the amount of the credit increases for qualified taxpayers, the rules remain the same. Here are some facts to help people understand the credit and if they can claim it when filing their taxes: The maximum…
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Taxpayers should know the signs of a phone scam, especially during filing season
Taxpayers should be aware that aggressive criminals pose as IRS agents in hopes of stealing money or personal information. The tax filing season is a prime time for phone scams because people are thinking about taxes. Here are some tell-tale signs of a tax scam along with actions taxpayers can take if they receive a…
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2020 Tax Filing Season Update
Tomorrow marks the half-way point and we will surpass 1,000 tax returns filed so far! If you have not yet scheduled your appointment, I want to encourage you to schedule your appointment online now in order to lock-in the time best for you. As we get closer to the filing deadline of April 15th we…
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April 15 Deadline Extended to July 15 for Tennessee Tornado Victims
Victims of this week’s tornadoes and severe storms in parts of Tennessee, including Nashville, will have until July 15, 2020, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced. The IRS is offering this relief to any area designated by the Federal Emergency Management Agency (FEMA) as…
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Meals and Entertainment Expenses
Business Meals and Entertainment Section 274(a)(1)(A) generally disallows a deduction for any item with respect to an activity of a type considered to constitute entertainment, amusement, or recreation Start Printed Page 11021(entertainment expenditures). However, prior to the amendment by the TCJA, section 274(a)(1)(A) provided exceptions to that disallowance if the taxpayer established that: (1) The…
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Phone Traffic at the Office Last Week was 790 Calls
Next Monday March 9th will mark the midway point of our tax filing season. The halfway point for us usually falls on March 10th, however, this year it moves up a day because it’s Leap Year and we had a February 29th that only comes along every 4 years. Phone Traffic at the Office If…
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In Retrospect, 2006 Does Not Compare to 2020
Many of you will remember when the northbound Whitesburg Bridge was replaced in 2006. At the time, traffic was reduced to two lanes on the old steel bridge and people grumbled for months about the inconvenience. Well 14 years later we have a bigger issue with the Folsom-McFarland Highway (Hwy 231). A client said to…
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Hwy 231 Closure & Detour
It looks like April 15th will come and go before Hwy 231 is reopened coming up the mountain. Your GPS may tell you differently, but trust us on this. The detour around the mountain for clients coming from the Huntsville area will only add 15 to 20 minutes to your drive time. Clients are not…
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2020 is Off to a Very Good Start!
Last week we averaged 57 incoming calls and 67 outgoing calls daily. We scheduled 39 appointments per day on average, which means a lot of you are utilizing our Online Appointment Scheduler. I want to thank you for scheduling online. It helps us more than I can tell you, by freeing up the ladies in…
